FTC takes action against US neobank Dave for allegedly “using misleading marketing”
In a statement, Dave says it intends to “vigorously defend ourselves”.
News
UK regtech Kaizen lands £42m investment from Guidepost Growth Equity
Guidepost’s investment marks Kaizen’s first external funding since its founding in 2013.
Alliant Credit Union names Ken Schaafsma as interim CEO as Dennis Devine departs
Schaafsma has served as Alliant Credit Union’s CRO for the past seven years.
UK banks and mobile operators take on APP fraud with new Scam Signal solution
Delivered via API, Scam Signal enables banks to spot correlations between mobile data and fraudulent transfers.
Bumper enhances dealer partner insights with acquisition of AutoBI
The deal comes after Bumper raised a $48 million Series B in January.
MAS and Banque de France trial post-quantum cryptography to secure financial communications
The tests paired Microsoft Outlook with PQC plugin algorithms.
BNPL lender Sunbit lands $355m debt warehouse facility
This is Sunbit’s second debt warehouse facility in 2024, following its $310 million deal in January.
Banking-Platform-as-a-Service provider Monument Technology makes senior tech and sales hires
The new CTO joins from SC Ventures, while the CCO comes directly from Mambu.
FE fundinfo snaps up Matterhorn Reporting Services to boost AIFMD reporting capabilities
The deal is FE fundinfo’s third acquisition this year.
BCA Syariah goes live with Thought Machine’s Vault Core
BCA Syariah is a subsidiary of Bank Central Asia (BCA), one of Indonesia’s largest banks.
BNZ acquires open banking fintech BlinkPay
BlinkPay’s co-founder and CPO Adrian Smith is set to become the firm’s new CEO.
MAS’ Project Guardian pilots settlement of tokenised fund subscriptions and redemptions using Swift
The initiative was led by Swift, UBS Asset Management and blockchain platform Chainlink.
Bank of Namibia taps Konsentus to support open banking implementation
Konsentus is to “identify, recommend and facilitate” the development of API standards in Namibia.
Saldo Bank selects Lunar’s Nordic infrastructure to streamline payments for customers in Sweden
Vilnius-headquartered Saldo Bank is the first bank to adopt Lunar’s Nordic infrastructure.
NatWest debuts B2B virtual card solution Approval2Buy in partnership with Mastercard
NatWest has delivered the offering using Mastercard’s virtual card and tokenisation technology.
B2B payments platform Melio secures $150m Series E funding round
The round values Melio at $2 billion, down from its previous $4 billion valuation in 2021.
Netherlands-based Intersolve names Five Degrees co-founder Martijn Hohmann as provisional CEO
Hohmann takes the reins of the payment processor from managing director André Moen.
Ripjar names industry veteran Tom Obermaier as new CEO
Alongside its leadership change, Ripjar has also bagged a majority growth investment from Long Ridge Equity Partners.
UAE-based Commercial Bank International to explore digital asset sustainability with Zumo
The collaboration follows CBI’s MoU with Abu Dhabi-based digital assets infrastructure platform Fuze in February.
Standard Chartered taps Wise Platform for cross-border payment service upgrade
Standard Chartered intends to connect with Wise’s infrastructure “over the coming quarters”.
Mutual Trust Bank in Bangladesh revamps e-commerce acquiring services with Compass Plus Technologies
The migration was completed in six months with the assistance of ITC Consultants.
Trustly names former Sinch exec Henrik Wallström as new CTO
Trustly appointed former Deliveroo exec Adam Miller as its new group CFO last month.
Standard Bank selects Volante Technologies’ PaaS for ISO 20022 compliance
The $166 billion-asset bank has adopted the vendor’s PaaS and embedded pre-processing solutions.
UK’s Recognise Bank lands £25m investment amid leadership transition
CEO Jean Murphy will step down after two years, succeeded by Nomo Fintech’s Simon Bateman.
Aussie crowdfunding platform Equitise enters administration
New Zealand’s FMA cancelled Equitise’s crowdfunding services licence in April 2024.
Airwallex reportedly in talks over fresh $200m investment at new $6bn valuation
Airwallex last raised $100 million through a Series E extension two years ago at a valuation of $5.5 billion.
US BNPL fintech Affirm launches pay-over-time options for UK consumers
Affirm’s UK country manager Ruth Spratt says the UK is “the perfect place for the next phase of Affirm’s journey”.
New digital wallet and POS app Payap gears up for 2025 launch in New Zealand
The app is powered by Auckland-based fintech Centrapay and backed by the Bank of New Zealand (BNZ).
US lender PowerPay lands $60m corporate bond led by KeyBank
PowerPay claims to have processed over $8 billion in loans since its inception in 2017.
Suzanne Rudnitzki named new Ixopay president and COO
Rudnitzki is credited with playing a key role in Ixopay’s April merger with TokenEx.
ICYMI fintech funding round-up: Brightwave, Mala, UnitPlus, Parachute, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CFPB fines VyStar Credit Union $1.5m over “botched rollout” of online banking system
The CFPB claims VyStar’s “botched system switch left families in a lurch, unable to manage finances and facing fees”.
Demystify Podcast: GITEX Global 2024 special
Hosts Dave and Dharmesh speak with four financial services leaders at this year’s GITEX Global event in Dubai.
iCapital looks to boost data management capabilities with AltExchange acquisition
AltExchange leverages AI to enhance data aggregation and reporting for financial advisors and asset managers.
Osigu raises $25m Series B and partners with Visa to streamline healthcare payments
Osigu has partnered with Visa to address healthcare payment challenges in LatAm and the Caribbean.
FinTech Futures: Top five news stories of the week – 1 November 2024
Our pick of the top fintech news stories this week includes nCino, Citi, Moniepoint and more.
October 2024: Top five new launch stories of the month
FinTech Futures takes a look back at five of the top new launch stories in October.
MoneyGram appoints former Walmart EVP Anthony Soohoo as new CEO
Soohoo succeeds Alex Holmes, who has served as CEO of MoneyGram for eight years.
October 2024: Top five M&A deals of the month
FinTech Futures takes a look back at five of the top M&A deals in October.
Afin Bank partners with Thought Machine and Vacuumlabs to power digital launch
Last week, Afin Bank obtained an Authorisation with Restrictions (AwR) banking licence.
